Spain: GAMESA shareholders set to pass Siemens merger, creating windpower giant

Shareholders for wind turbine maker GAMESA will gather this Tuesday to vote on the imminent merger of the company with German group Siemens’ own wind-power division. Should the vote go as expected, the merger would result in the world’s largest maker and operator of wind-power equipment.

The Spanish company’s shareholders will vote on whether to proceed with their purchase of Siemens Wind Holdco. The deal would see Siemens’ own shareholders holding on to up to 59% of the final company’s social capital.

Should the vote succeed, the merger will begin its necessary revision process for authorization from Spanish and European competition regulators, as well as confirmation from the National Stock Market Commission (CNMV) that Siemens will not be forced to launch an IPO over their wind division. The merger would create a wind-power behemoth, with over 69 GW of installed capacity and orders for over 20,200 MW in all five continents, and valued at over 10,000 euros.

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